Accidental death benefit plan

Accidental death insurance policies are commonly available in the UK. The objective of the policy is to provide financial benefits to the dependents of an insured person who dies due to some bodily injury. The type of insurance cover depends upon the plan that the individual selects.

However, there are certain unusual but significant exclusions and limitations to the policy cover. The insured person will not be entitled to insurance cover if he meets a fatal accident while

  • Driving with more alcohol in his blood than is permitted under the law.
  • Driving a motor cycle, including mopeds and motor tricycles, as a driver or a passenger.
  • Driving, mountaineering, rock or cliff climbing, pot-holding, parachuting, participating in sports like professional boxing, racing other than on foot, or flying except as a fare paying passenger.
  • Engaging in military duties.
  • Intentionally inflicting injury upon self, committing suicide or attempted suicide.
  • Taking drugs unless they have been prescribed by authorized doctors and are for the treatment of drug addiction.
  • If the insured person has reached the age of 60 years on or before the effective date of the policy.

A person should not insure himself and claim benefit from more than one policy which solely provides death benefits arising out of physical injury. The policy is issued under guaranteed acceptance and is administered by First Assist Insurance Services Limited and underwritten by Great Lakes Reinsurance (UK) PLC.

Policy renewal is not offered after the insured person reaches the age of 75.

What is the duration of the policy?

The insurance policy lasts for 12 months from the effective date shown in the insurance schedule. The insurance company notifies the insured individual before the expiry date of the policy and enquires if he or she is prepared to renew the insurance for another term.

How can the policy be cancelled?

When you buy the policy and get the receipt of payment, you can consider the cover for 14 days to ensure that it meets your requirement. You get the same period of 14 days for consideration of the policy when the company makes you the renewal offer. If you do not want to continue with the policy, you may write to the company or call the customer care service by telephone. The company will refund the premium that you have already paid to it provided you have not made any recovery claim in the meantime.